Growing global communications and technology industry is the major driver of global cloud OSS BSS market. Increasing adoption of customized cloud OSS BSS solutions is significantly boosting the market growth of cloud OSS BSS during the forecast period.
According to the report, the Global Cloud OSS BSS Market is projected to increase at a CAGR of 14.04% over the forecast period 2019-2025.
Operational Support System (OSS) and Business Support System (BSS) have been a critical part of a telecommunication infrastructure, and telecommunication providers have, for long, been showing a high interest in migrating these to cloud. One of the major factors fuelling the transition to cloud is increasing focus of enterprises towards increasing flexibility in order to adapt to continuously evolving trends in the landscape. Since the sector is highly competitive, delay in adapting to changes can severely hurt a company’s revenue. Furthermore, greater cost savings, and thus better profit margins, associated with migration of these functions to cloud is pushing telecom providers towards it, thus boosting the market growth. However, reluctance of many CIOs towards making this leap, on account of huge risks associated with it, is hindering the market growth to some extent.
Since OSS and BSS are core components of the telecom enterprises’ infrastructure, migrating them to cloud means higher risks associated with data loss or business continuity. Since CIOs usually serve companies for fairly short tenures, they continue to show reluctance towards this migration considering the time and cost this migration would take, and risks which come attached to it. Yet, some start-ups are showing high adoption of cloud OSS BSS. Verizon’s brand Visible, for instance, runs and manages its operations purely from cloud. Rising adoption of convergent billing systems is expected to continue fuelling the adoption of cloud OSS BSS across all major regions throughout the projected period, thus positively impacting the growth of the market.
Geographically, the global cloud OSS BSS market has been segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America accounted for a significant market share in 2019. Early adoption of new technologies and the presence of major market players in the region have been contributing significantly to the market growth of cloud OSS BSS in this region. Asia Pacific (APAC), however, is projected to witness a substantial CAGR during the forecast period owing to the expansion of subscriber base in the region. Growing popularity of cloud and supportive government regulations are expected to boost the growth of global cloud OSS BSS market in this region over the forecast period.
The major players covered as part of the report are TCS, Amdocs, Comarch, Ericsson, Hewlett Packard Enterprise, and Huawei among others.
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This report has segmented the global cloud OSS BSS marketon the basis following terms: